Contango Oil & Gas (NYSEAMERICAN:MCF) – Investment analysts at Seaport Global Securities boosted their FY2017 earnings per share estimates for shares of Contango Oil & Gas in a report released on Monday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings per share of ($0.87) for the year, up from their prior estimate of ($0.88). Seaport Global Securities currently has a “Buy” rating on the stock.
A number of other analysts have also issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $6.00 target price on shares of Contango Oil & Gas in a research report on Monday, November 13th. Zacks Investment Research downgraded shares of Contango Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Contango Oil & Gas presently has an average rating of “Hold” and an average price target of $8.00.
Large investors have recently bought and sold shares of the business. Messner & Smith Theme Value Investment Management Ltd. CA raised its stake in Contango Oil & Gas by 193.9% during the third quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 306,548 shares of the oil and natural gas company’s stock worth $1,694,000 after purchasing an additional 202,243 shares during the period. Dimensional Fund Advisors LP raised its stake in Contango Oil & Gas by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,353,117 shares of the oil and natural gas company’s stock worth $8,985,000 after purchasing an additional 158,686 shares during the period. Proxima Capital Management LLC purchased a new position in Contango Oil & Gas during the second quarter worth approximately $1,428,000. FMR LLC raised its stake in Contango Oil & Gas by 4.6% during the second quarter. FMR LLC now owns 2,823,083 shares of the oil and natural gas company’s stock worth $18,745,000 after purchasing an additional 122,913 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Contango Oil & Gas by 86.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 85,570 shares of the oil and natural gas company’s stock worth $431,000 after purchasing an additional 39,717 shares during the period.
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Contango Oil & Gas Company Profile
Contango Oil & Gas Company (Contango) is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States.
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